![]() “A drought in the Midwest has deteriorated crops, with corn at its worst conditions for this time of year since 1992. Demand from top buyer China is waning at a time the cost to feed animals is surging. “It’s a sign that producers will soon take steps to shrink their herds, with growers losing as much as $80 a head, said Shane Smith, chief executive officer of Smithfield Foods. “Lower wheat production for a second straight year could complicate New Delhi’s efforts to keep a lid on prices of the staple and overall food inflation, a major concern amid forecasts of an El Nino weather pattern.”Īnd Bloomberg writer Michael Hirtzer reported yesterday that, “ American pig farmers are losing so much money that some may soon start selling the corn they would normally use to feed animals, according to the world’s largest hog producer. Midwest.”Įlsewhere, Reuters writer Rajendra Jadhav reported yesterday that, “ India’s wheat harvest in 2023 is at least 10% lower than the government’s estimate, a leading trade body told Reuters on Wednesday, amid a sharp rise in local prices during the past two months. ![]() Reuters writer Matthew Chye reported today that, “Chicago corn futures edged lower on Thursday, as traders locked in profits after a recent rally over concerns about dry weather conditions in key areas of the U.S. Corn Belt, grain traders are piling in risk premium – with concerns that the dry conditions will adversely impact crop yields.” The Dow Jones article added that, “With drought conditions all over the U.S. “ The size of the drops surprised traders,” Maltais said. 25 (June 21, 2023).Īlso yesterday, Dow Jones writer Kirk Maltais reported that, “ Grain futures reacted to the USDA reporting big drops in the amount of planted corn, soybeans, and wheat in good or excellent condition.” said in a report dated June 20.” Weekly Weather and Crop Bulletin. ![]() “Dryness and stress will remain significant across southern, central and northeastern areas of the Midwest corn and soybean belt, forecaster Maxar Technologies Inc. Ribeiro added that, “ There’s little sign of relief for crops in the forecast. #Illinois #Corn Condition /kSIcsgIR1M- FarmPolicy June 20, 2023
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |